Account Opening Disclosures and Cardholder Agreement (Coign)

Mrv Banks's filed agreement for 20260101 Account Opening Disclosures and Cardholder Agreement (Coign) discloses a purchase APR of 21.49%–27.49%. That purchase rate ranks near the 66th percentile across this corpus of 4,587 filings.

What the document actually states

What follows is drawn entirely from Mrv Banks's CFPB filing for 20260101 Account Opening Disclosures and Cardholder Agreement (Coign). The filing runs 15 pages.

On the record here: a purchase rate, a cash advance rate, a balance transfer rate, a late payment maximum and a grace period. It is silent on a penalty rate, an annual fee line and a foreign transaction fee.

Where the purchase APR sits

This is a tiered agreement: the filing discloses a purchase APR anywhere from 21.49% to 27.49%, a spread of 6 percentage points. Which end of that band applies is set by the issuer at account opening and the filing does not say how.

The floor of that band sits at about the 63rd percentile of filed purchase rates; the ceiling sits at about the 66th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

The agreement labels the purchase rate variable, so the quoted figure reflects the index at the time of filing rather than a locked-in price.

What the rate means in dollars

A $4,000 balance left untouched for twelve months accrues about $1,265 in interest at this purchase rate.

On a median-priced agreement from this index (21.99%) the same $4,000 would run about $983 a year, so this card costs in the region of $282 more annually for the identical balance.

Broken down to a single thirty-day cycle, the same balance accrues roughly $91.37.

Note the $0.50 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

The fee structure

Cash advances carry a cash advance fee of $10 or 3% of the advance, whichever is greater and a cash advance APR of 31.49%. The premium over purchases is 4 percentage points.

Transferred balances are priced at 21.49%; no separate transfer fee was captured from the filing.

Paying in full

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That matches the 25-day median across the corpus almost exactly.

The $0.50 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

Penalty pricing and late fees

Late payments are capped at $35 under this filing, about the 54th percentile of late fee maximums in the corpus.

The issuer's other agreements

Mrv Banks has 10 agreements indexed on this site. Across that lineup purchase rates span 18% to 35.99%; this filing's 27.49% sits above 3 of the comparable ones.

The limits of this document

The disclosure parsed here does not state an annual fee, a foreign transaction fee and penalty pricing. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

The document itself

This summary stands or falls on the linked PDF — 15 pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

27.49% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern.